Impinj, Inc. (NASDAQ:PI) Insider Sells $2,319,154.69 in Stock

Impinj, Inc. (NASDAQ:PI) insider Cathal G. Phelan sold 11,549 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $200.81, for a total transaction of $2,319,154.69. Following the sale, the insider now owns 6,098 shares of the company’s stock, valued at $1,224,539.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Impinj Stock Performance

Shares of NASDAQ PI traded up $0.57 during trading on Friday, reaching $203.56. The company had a trading volume of 733,784 shares, compared to its average volume of 473,893. The stock has a market cap of $5.76 billion, a PE ratio of 228.72 and a beta of 1.81. The business’s 50 day moving average price is $202.60 and its 200-day moving average price is $173.70. Impinj, Inc. has a 52 week low of $67.63 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million during the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.36) earnings per share. Equities analysts anticipate that Impinj, Inc. will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Impinj by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after acquiring an additional 35,893 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Impinj during the second quarter worth $103,252,000. Janus Henderson Group PLC raised its position in Impinj by 0.6% during the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after acquiring an additional 2,681 shares in the last quarter. Jennison Associates LLC raised its position in Impinj by 15.0% during the third quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock worth $51,779,000 after acquiring an additional 31,269 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Impinj during the second quarter worth $30,116,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Evercore ISI reissued an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday, October 24th. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Roth Mkm upped their target price on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group increased their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.